Publication
Title
Market power extended : from Foucault to Meadows
Author
Abstract
Market power is a complex matter that is approximated with quantitative indicators within economics. However, these indicators may not fully capture market power, or they may fail to identify it, although it may be present. Moreover, a quantitative approach restricts market power as a concept, impeding the ability to discuss its relationship with other concepts, such as sustainability. This paper extends the definition of market power, following Foucaults understanding of power and the associated theoretical discussions of power from different disciplines. We extended Foucaults work by including systems thinking to capture the importance of the prevalent systems paradigm, which is the ultimate initiator of action. Apart from distinguishing different elements of power, we also integrate an instrumental view on the elements of power. The developed frame allows us to understand the dynamic character of power as a force that strives to maintain or ameliorate the position of the paradigm that it serves. Based on this frame, we outline how this extended understanding of power can be used to analyze market power itself, and its relation with sustainability.
Language
English
Source (journal)
Sustainability
Sustainability
Publication
2018
ISSN
2071-1050
Volume/pages
10 :8 (2018) , p. 1-23
Article Reference
2843
ISI
000446767700259
Medium
E-only publicatie
Full text (Publisher's DOI)
Full text (open access)
UAntwerpen
Faculty/Department
Research group
Project info
SUFISA: Sustainable finance for sustainable agriculture and fisheries
Publication type
Subject
Affiliation
Publications with a UAntwerp address
External links
Web of Science
Record
Identification
Creation 19.10.2018
Last edited 15.10.2021
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